Robeco Institutional Asset Management B.V. boosted its position in Envestnet Inc (NYSE:ENV) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 359,000 shares of the business services provider’s stock after purchasing an additional 9,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.74% of Envestnet worth $24,545,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Renaissance Group LLC raised its holdings in Envestnet by 2.2% in the first quarter. Renaissance Group LLC now owns 8,398 shares of the business services provider’s stock worth $549,000 after purchasing an additional 177 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in Envestnet by 6.4% in the second quarter. Zions Bancorporation N.A. now owns 4,209 shares of the business services provider’s stock worth $288,000 after purchasing an additional 254 shares in the last quarter. Huntington National Bank raised its holdings in Envestnet by 27.3% in the first quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock worth $101,000 after purchasing an additional 331 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of Envestnet by 37.5% in the first quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock worth $90,000 after acquiring an additional 375 shares during the last quarter. Finally, Alley Co LLC grew its stake in shares of Envestnet by 4.7% in the first quarter. Alley Co LLC now owns 12,563 shares of the business services provider’s stock worth $821,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.
Shares of NYSE ENV traded down $1.97 during trading on Friday, reaching $68.11. The company had a trading volume of 193,073 shares, compared to its average volume of 254,782. Envestnet Inc has a 12-month low of $46.57 and a 12-month high of $73.94. The stock has a market cap of $3.32 billion, a PE ratio of 54.49, a PEG ratio of 3.15 and a beta of 1.67. The business’s 50-day moving average is $70.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). Envestnet had a negative net margin of 2.52% and a positive return on equity of 10.28%. The business had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same period last year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts forecast that Envestnet Inc will post 1.4 EPS for the current year.
In related news, COO Joshua Mayer sold 1,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $67.54, for a total transaction of $67,540.00. Following the sale, the chief operating officer now directly owns 29,417 shares of the company’s stock, valued at $1,986,824.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Judson Bergman sold 15,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $69.91, for a total value of $1,048,650.00. Following the sale, the chief executive officer now directly owns 812,099 shares in the company, valued at $56,773,841.09. The disclosure for this sale can be found here. Insiders have sold 115,239 shares of company stock worth $8,065,598 over the last ninety days. 4.97% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on ENV shares. TheStreet cut Envestnet from a “b” rating to a “c+” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. cut Envestnet from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $71.00 to $73.00 in a research note on Thursday, May 9th. Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their target price on Envestnet to $71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Finally, Buckingham Research cut Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research note on Thursday, May 9th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and an average target price of $73.30.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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